SIZ23 – December Silver (Last:23.84)

We can dream about Silver’s rise to the 36.24 target shown, but for the time being that’s all it is: a dream. That’s not saying the December contract could not break out within the next 8-10 weeks with a fist-pump above the 27.46 peak recorded in March 2022, but until that happens there is no point getting all het up about the prospect. At the moment, Silver has been tough merely to trade, since the futures have oscillated mostly within a single Hidden Pivot band for ten months. They are also trading toward the middle of a wider range that has persisted since July 2020. Bottom line, if you see anything even remotely interesting in this chart, you are hallucinating.